The Pine Creek Farm

Price: Auction
County: Ogle

Contact Details
Mark T. Mommsen
Mobile: 815-901-4269
Phone: 815-756-3606
Email: Mark.Mommsen@mgw.us.com

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ONLINE AUCTION - The auction platform is open for bidding. The auction closes December 16, 2021, beginning at 1 p.m. Central Time.
Auction Date
Dec 16, 2021 - 1:00 PM
Inspection Location
Please call to schedule an inspection.
Directions to Auction
ONLINE AUCTION: The auction platform is open for bidding. Please visit mgw.us.com/pinecreek to bid. The auction closes December 16, 2021, beginning at 1 p.m. Central Time.
Directions to Farm
From the intersection of IL-2 and IL-64 in Oregon, head south on IL-2 for 0.8 miles to Pines Road. Take Pines Road west 3.6 miles. Then, head south on S Ridge Road 0.5 miles to W Pines Road. Continue west for 2.1 miles on W Pines Road to arrive at the property.

Auction Terms & Conditions

agency
Martin, Goodrich & Waddell, Inc. and its representatives are agents of the owner.

earnest money escrow
The successful bidder as determined by the auctioneer is required to make a 10% down payment of the accepted bid price on the day of auction with the balance due at closing. Bidding is not conditional upon financing.
closing
Closing shall be on or before January 12, 2022. The purchase agreement is between the seller and buyer only and cannot be assigned to a third party without the written consent of the seller. Possession is subject to the rights of any tenants in possession.
real estate taxes
The 2021 real estate taxes due and payable in 2022 shall be paid by the seller. The 2022 real estate taxes and all subsequent year taxes shall be paid by the buyer.
crops and expensess
The farm is free of leases after the 2021 crop year.
conveyance
At closing, seller shall convey and transfer the property to buyer by warranty deed, appropriate assignment, land trust, or other similar acceptable instrument of conveyance. At the same time, the balance of the purchase price then due shall be paid and all documents relative to the transaction shall be signed and delivered.

title evidence
At closing, seller shall furnish a commitment and Owner’s Title Guaranty Policy for the amount of the purchase price at the seller’s expense.
survey
Seller shall provide a boundary survey by a licensed land surveyor at the seller’s expense, dated May 2, 2018. Final purchase price will be based upon gross surveyed acres.
disclaimer
Announcements made the day of the auction supersede any previously made statements or material provided, whether printed or oral. Information contained in this brochure is subject to the terms and conditions of the purchase agreement between the seller and buyer. All maps, data, acreages, and images in this brochure are approximate, and no liability for its accuracy is assumed by the seller or seller’s agent. The buyer shall be responsible for conducting their own independent inspection and due diligence concerning the property. The property is being sold “as is” and “where is” with no warranty or representation, either expressed or implied, concerning the property is made by the seller or seller’s agent. The auctioneer reserves the right to make final decisions on auction conduct and bidding increments.
disclosure
Some photos in this brochure may be stock photography and are for illustrative purposes only. Seller is a licensed Illinois real estate broker.
Description of Property
Part of the Northwest Quarter of Section 15, Township 23 North – Range 9 East (Pine Creek Township), Ogle County, Illinois.
Method
The property will be offered in one tract in an online auction. Bidding will be on a per acre basis, multiplied by gross surveyed acres. The seller reserves the right to accept or reject any or all bids. All successful bidders will enter into a purchase agreement with the seller immediately following the auction. Upon the close of the auction, the purchase agreement will be forwarded to the successful bidders via email or fax. A signed copy of the purchase agreement must be received by Martin, Goodrich & Waddell, Inc. within 24 hours of the auction closing. A 10% earnest money payment is required to accompany the purchase agreement and may be submitted by cashier’s check or wire transfer. Bidding ends at 1:00 p.m. Central Time on Thursday, December 16th, 2021. A bid placed within 5 minutes of the scheduled close of the auction will extend bidding by 5 additional minutes until all bidding is completed. If you plan to bid, please register 24 hours prior to the auction closing. Bidding is not conditional upon financing.
Mineral Rights
The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.

Property Details

location
The subject property is located approximately 79 miles west of Chicago O'Hare International Airport. Nearby cities include: Mt. Morris (3 11/16 miles north), Oregon (4 7/8 miles northeast), Polo ( 6 miles west), and Dixon (7 miles south).
frontage
There is 3/16 mile of road frontage on both W Pines Road and S Columbian Road.
major highways
Illinois Route 2 is 3 3/8 miles southeast, Illinois Route 64 is 4 miles north, and U.S. Route 52 is 6 3/4 miles west of the property.
legal description
A brief legal description indicates The Pine Creek Farm is located in Part of the Northwest Quarter of Section 15, Township 23 North – Range 9 East (Pine Creek Township), Ogle County, Illinois.
total acres
There are a total of 40.0 acres according to a survey dated May 2, 2018.
tillable acres
There are approximately 30.82 tillable acres according the Ogle County FSA.
soil types
Major soil types found on this farm include Whalan loam and Fayette silt loam.
topography
The topography of the subject farm is level to very rolling.
location climate growing season
Ogle County has a continental climate typical of northern Illinois. The average length of the growing season is nearly 142 days. On average we expect about 2,854 growing degree days from April 15 through September 30. Annual precipitation averages about 34" with over 2/3 of this coming during the growing season. Snowfall averages about 33" per year. Prevailing winds are from the west and southwest. This climate, combined with the generally excellent soils in this area, provides a nearly ideal environment for the production of corn and soybeans.
mineral rights
The buyer will receive and the seller will convey all mineral rights that the seller owns relating to the property.
possession
Closing shall be on or before January 12, 2022. The purchase agreement is between the seller and buyer only and cannot be assigned to a third party without the written consent of the seller. Possession is subject to the rights of any tenants in possession.
financing
Mortgage financing is available from several sources. Names and addresses will be provided upon request.
taxes
The 2020 real estate taxes totaled $529.14. The tax parcel number is #15-15-100-009.
grain markets
There are a number of grain markets located within 10 miles of The Pine Creek Farm.
zoning
The Pine Creek Farm is zoned AG-1, Agricultural.

Soils Information

Soil # Soil Name Acres +/- Productivity Index* Weighted Average Corn Yield Index* Gross Bushels
509C2Whalan loam17.33841141,976
280BFayette silt loam8.771211651,447
280gC2Fayette silt loam2.49113155386
403FElizabeth loam1.37415474
3451cALawson silt loam0.86140190163
Total Acres : 40.00 acres, more or less
Tillable Acres : 30.82 acres, or 77.05% per FSA figures
Productivity Index : 96.52
Weighted Average Corn Yield Index : 131.28 bushels per acre, based on tillable acres
Comparable Yield Index : 101.15 bushels per acre, based on total acres

Disclaimer: Although the information contained in this brochure is considered to be accurate, no representation or warranty to that effect is being made. The information contained herein is subject to verification, and no liability for errors or omissions is assumed. The listing may be withdrawn with or without notice, and the stated price and terms are subject to change without notice or approval. The Seller further reserves the right to reject any and all offers. All inquiries, inspection appointments, and offers must be channeled through the Seller’s Designated Agent.

*Figures taken from the University of Illinois Bulletin 811, Optimum Crop Productivity Ratings for Illinois Soils.

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